| Resource | Why It's Good | |----------|----------------| | – free PDFs & courses | No cost, accurate, covers 50+ strategies | | Tastylive – free video series | Practical trade construction & management | | "Options as a Strategic Investment" by Lawrence McMillan | The "bible" of option strategies (5th edition covers ~50+ strategies) | | CME Group Strategy Guides | Professional-level PDFs with payoff diagrams |
: Using four options of the same expiry to profit from a highly specific price target. 3. Essential Concepts for Multi-Leg Execution
Adjusting strikes to eliminate risk on one side. Christmas Tree Butterfly: Using non-adjacent strikes. Zebra (Zero Extrinsic Backspread): High-delta ratio spread. master 76 option strategies pdf
: Buying both a call and a put at the same strike and expiration. Long Strangle
Designed for sideways markets, range-bound stocks, and capitalizing on time decay (Theta). | Resource | Why It's Good | |----------|----------------|
While many search for a simple PDF file to download, "Master 76 Option Strategies" is primarily an . Officially published in 2018, the product is best described as a book that comes with a "value-added Excel for Windows trading software" companion. The book itself is a substantial 384-page guide that walks you through the mechanics of trading. However, the true power of the product lies in the downloadable Excel workbook that accompanies it.
Generally, the interactive features rely heavily on Windows-based Excel macros (VBA). You may experience compatibility issues running it on a Mac or a browser-based version of Office 365. A Windows PC is strongly recommended. Christmas Tree Butterfly: Using non-adjacent strikes
: A more cost-effective version of the straddle using out-of-the-money options. 5. Advanced Exotic and Ratio Spreads